Mining (Proof-of-NFT)
The Proof-of-NFT mining system is the backbone of the $PTC ecosystem, enabling the distribution of rewards to our Punktoshi NFT holders in a secure and decentralized manner.
How Proof-of-NFT Mining Works
Block Detection via API:
Our custom API continuously monitors the Bitcoin blockchain for the creation of new blocks.
Each time a new block is detected, the API triggers the reward distribution process.
Reward Allocation:
For every new Bitcoin block, 5 random Punktoshi NFTs are selected.
These selected NFTs are rewarded with $PTC tokens, ensuring a consistent and fair distribution of rewards.
Random Distribution to Holders:
$PTC rewards are distributed to the randomly selected Punktoshi NFT holders.
The randomness ensures a fair and unbiased distribution of rewards, maintaining the integrity of the mining system.
Increasing Your Chances to Earn $PTC
While the selection is random, certain factors can enhance your chances of earning $PTC rewards:
More NFTs, Higher Chances: Holding multiple Punktoshi NFTs increases the number of your NFTs that can be selected for rewards with each new block mined.
Special Traits Enhancement: NFTs with specific traits have a higher probability of being selected, further increasing your earning potential.
Enhanced Mining Rates for Special Traits
To incentivize diversity and add an exciting layer of rarity, certain Punktoshi NFT traits are granted enhanced mining rates. These special traits increase the likelihood of earning $PTC rewards, providing additional benefits to their holders:
Alien
Highest Mining Rate: Alien-themed NFTs have the greatest chance of being selected for $PTC rewards, making them the most valuable in terms of mining potential.
Ape
High Mining Rate: Ape-themed NFTs enjoy a higher mining rate than standard NFTs, offering better chances of earning rewards.
Zombie
Moderate Mining Rate: Zombie-themed NFTs also benefit from an enhanced mining rate, though slightly lower than Alien and Ape traits.
By holding NFTs with these special traits, collectors can significantly increase their chances of receiving $PTC rewards, thereby maximizing their participation in the Punktoshis ecosystem.
Tracking Your Rewards
Users can easily track the amount of $PTC they have earned through mining on our official website. This feature allows holders to monitor their rewards in real-time and stay informed about their potential for future airdrops.
Educational Value
The Proof-of-NFT mining system serves as an educational tool, demonstrating how block rewards function on the Bitcoin blockchain. By participating in this system, our community gains practical insights into blockchain mechanics and the mining process, fostering a more informed and engaged user base.
Understanding Blockchain Rewards: Through the $PTC distribution process, holders learn how block rewards are allocated and the significance of decentralization and security in blockchain networks.
Engagement with Bitcoin Mining: The system provides a hands-on experience with Bitcoin’s mining dynamics, bridging the gap between digital art ownership and blockchain technology.
Future Developments
The Proof-of-NFT mining system is designed to evolve with the Punktoshis project. Future updates may include:
Dynamic Reward Allocation: Adjusting the number of $PTC rewards per block through halvings determined by community feedback. This mechanism allows the community to influence the reward structure, ensuring the ecosystem remains balanced and sustainable.
Additional Traits: Introducing new NFT traits with varying mining rates to keep the ecosystem vibrant and engaging.
Integration with Events: Enhancing the utility of $PTC by using earned tokens for access to exclusive events and promotions, providing seamless benefits to holders.
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